Posts

The first superjumbo Airbus A-380 plane
landed here today from Singapore with Singapore Airlines becoming the
only global carrier to launch commercial flights of the 'big birds' to
India. The landing of the long-haul, wide-body and fully double -decker
aircraft that can carry a total of 471 passengers, at the Indira Gandhi
International Airport was preceded by a thunder storm and high-velocity
winds that led to the diversion of 21 flights to nearby airports. On
landing, the superjumbo was given a 'water-salute' by the fire brigade
at the airport run by the Delhi International Airport Limited (DIAL)
which made special arrangements to handle the large number of passengers
and their baggage. The passengers were welcomed by the SIA staff with
gifts and bouquets. The SIA's aircraft has a total seating capacity of
471 seats with 399 in economy, 60 in business class and 12 first class
suites. Immigration and customs departments had made special
arrangem…

BEARISH BIAS
Nifty closed flat for the day and lost more than 1.75%
during the week. Immediate strong support is at 7200 and Resistance at
7350 For short term, buying may be avoided till it closes above 7350
or gets nearer to
major psychological support zone of 7000.. While Global cues, Quarterly
results and Funds flow
are expected to broadly guide the market movement, based on the present
market position , market can be expected to
be better during midsession and remain subdued towards close.

CLOSING SESSION SUBDUED
Nifty lost more than 90 points to close below 7250, thus
breaching the short term support of 7265 and becoming bearish.
Derivative
closing appears to have precipitated the fall. For short term, buying
may be avoided till it closes above 7350. While Global cues,
Quarterly results and Funds flow
are expected to broadly guide the market movement, based on the present
market position , market can be expected to
be better during midsession and remain subdued towards close.

Nifty 7236 -94Review for Thursday :: Bearish Bias … … !!!
After Two days’ of narrow movement, Market traded with clear
bearish bias from the opening and closed with a loss of about 1.40%. 36 of
Nifty stocks ended in the red and broader market too was negative with Advance Decline ratio at about 1:1.4.
Infy lost heavily and was the main reason for the negative sentiment in the
opening session. Media, Pharma, PSU Bank indices gained while IT, Infra, Energy…

Leveraging information technology to provide
latest agriculture-related information to farmers, Gujarat government
today launched a dedicated web portal and related mobile applications
for them. 'iKisan' portal and the related apps were launched by Chief
Minister Anandi Patel at the inauguration of 'Krishi Mahotsav'
(agriculture fair) at Morbi, about 200km from here. She also announced
on the occasion that women will be given more powers to run milk
producing co-operative societies in the state. The portal and apps are
designed to provide important information related to agriculture loans,
new farming techniques, machinery, market prices of produces, soil
testing and availability of seeds, pesticides and fertilisers. This is
the 10th edition of the Mahotsav, a government-organised event.

Google unveiled plans to build its own
self-driving car that it hopes to begin testing in the coming months.
"They won't have a steering wheel, accelerator pedal, or brake pedal...
because they don't need them. Our software and sensors do all the work,"
Google's Chris Urmson said in a blog post. Urmson said Google plans
to build about 100 prototype vehicles, "and later this summer, our
safety drivers will start testing early versions of these vehicles that
have manual controls." He added, "If all goes well, we'd like to run a
small pilot program here in California in the next couple of years."
For Google, the car marks a shift away from adapting vehicles made by
others in its quest to pioneer individual transport that needs only a
stop-and-go function. "It was inspiring to start with a blank sheet of
paper and ask, 'What should be different about this kind of vehicle?'"
the post said. The top speed of …

WIDE RANGE DAY...SCRIP SPECIFIC MOVEMENTS
After Two days’ of mild correction, Nifty closed with minor
gains and continues to hold 7300 level. Stop loss for Nifty may be maintained
at 7265 (on close basis). Scrip specific
movement can be expected in view of the last day of Derivative settlement. While
Global cues, Quarterly results and Funds flow
are expected to broadly guide the market movement, based on the present
market position , market can be expected to
experience zigzag movement with subdued midsession. Stock specific
movements can be expected in view of the last day of the derivative settlement
and a wide range too can be expected in view of the narrow movement for the
last Two days.

Nifty 7330 +12Review for Wednesday :: Lackluster Movements… … !!!
Market traded in a very narrow range and closed with minor
gains for the day. 28 of Nifty stocks ended in the green and broader market too
was positive with Advance Decline ratio
at about 2:1. …

Top 10 food retailers, including Reliance
Fresh, Aditya Birla Retail, Wal-Mart India and Bharti Retail, have
registered accumulated losses of over Rs 13,000 crore in the last
fiscal, ratings agency Crisil said today. "Accumulated losses of food
retailers are estimated to have crossed Rs 13,000 crore in the last
fiscal, an analysis by CRISIL Ratings of top 10 food retailers that are
in gestation phase showed," a Crisil statement said. The companies
analysed by Crisil are Max Hypermarket, Hypercity Retail, Aditya Birla
Retail, Metro Cash & Carry India, Trent Hypermarket, Reliance Fresh,
Heritage Fresh, Spencer's Retail, Bharti Retail and Wal-Mart India.
Commenting on the findings, Crisil Ratings President Ramraj Pai said:
"These losses reflect the challenges in the food and grocery retailing
vertical. Compared with other formats, food retailing is a very local
business where optimal supply chains are critical to lower costs." "The
busin…

Complying with the Supreme Court
directive, the new government on its first day in office today
constituted a special investigative team (SIT) headed by a former
Supreme Court Judge to unearth black money, including in the case of
Hasan Ali. M B Shah, head of the SIT that also comprises another
retired Supreme Court judge Arijit Pasayat as vice-chairman, will be
assisted by the Revenue Secretary, directors of CBI, IB, RAW and ED, the
CBDT Chairman and an RBI deputy governor. The Supreme Court, which
appointed the two judges, had last week granted the government one week
to set up the SIT. The Union Cabinet headed by Prime Minister Narendra
Modi held its first meeting today in which it named the members of the
SIT. "In the first Cabinet of the new government...in the light of the
directions of the SC, we have constituted an SIT for unearthing black
money... This was an important issue for us," Law and Telecom Minister
Ravi Shankar Prasad told reporters after…

A call on any passenger fare hike in trains
will be taken after discussions in the Cabinet and also with Prime
Minister Narendra Modi, Railway Minister Sadanand Gowda said today. "I
will have a discussion with my Cabinet colleagues. I will also have
discussions with railway officials. Finally I will have discussion with
honourable Prime Minister and then only whatever decision," he said
after assuming charge at Rail Bhawan here when asked whether Railways
will go for a hike in passenger fares and freight rates as proposed by
the previous government. "Unless I see the pros and cons of these
things, I cannot say right now. Certainly, I need two weeks time to take
stock of the situation," Gowda further said. Reeling under financial
crunch, Railways had proposed 14.2 per cent hike in passenger fares and
6.5 per cent increase in freight rate on May 16. The hike was to be
effected from May 20. However, Railways put the hike order notification
on hold an…

The Prime Minister's Office under
Narendra Modi today took control of Twitter handle @PMOIndia that was
relinquished by the previous dispensation under Manmohan Singh last week
and had led to a controversy with BJP terming it "disgraceful and
illegal". The first tweet from the PMO was about the Prime Minister
Modi offering tributes to Mahatma Gandhi with the photograph showing him
paying homage to the Father of the Nation. The next tweet invited its
1.27 million followers to the revamped official webside of the PMO. The
twitter handle @PMOIndiaArchive, which was created by the previous PMO
and to which all previous PMO tweets were shifted, could not be traced
today. "Sorry, that page does not exist!," was the message shown by
Twiiter when the handle was searched. However, a tweet from @PMOIndia
said all tweets posted by the Singh's office have been archived at the
PMO website. "All Tweets from this account up till 26th May 2014 have …

Prime Minister Narendra
Modi's crack team of economic ministers led by Arun Jaitley in finance today
began the Herculean task of arresting price rise, reviving investor confidence
and boosting growth. Jaitley, who has also been given the Ministry of Corporate
Affairs, pledged to contain the price rise, restore the confidence of investors
in the economy and promote growth while keeping the fiscal deficit under check.
New Telecom and Law Minister Ravi Shankar Prasad made the right noises on
retrospective tax, which has been severely criticised by industry and foreign
investors, and promised a stable fiscal regime to lure overseas investments.
Former BJP president and party heavyweight Nitin Gadkari, who turned 57 today,
will take charge of the Road Transport and Highways and the Shipping ministries
on Wednesday. Three others -- Minister for Micro, Small and Medium Enterprises
Kalraj Mishra, Fertiliser Minister Ananth Kumar and Heavy Industries and Public
Enterprises Minister Anant G…

Prime Minister Narendra Modi assumed office
today, a day after being sworn-in by President Pranab Mukherjee. Modi
was received at South block office of the PMO by newly appointed
Principal Secretary Nripendra Mishra and some other officials. As soon
as he entered his office, he paid obeisance to the Father of the Nation
Mahatma Gandhi by offering flower tributes to his photograph. However,
even before assuming charge, Modi had already began his official work
last night itself by holding a meeting with top officials. Soon
after he was sworn-in as Prime Minister, Modi sought support, blessings
and active participation of the people to take India's development
journey to newer heights. "Together we will script a glorious future
for India," he said in his first message on the relaunched PMO website.
"Let us together dream of a strong, developed and inclusive India that
actively engages with the global community to strengthen the cause of
world peac…

The Class of 2015 of the Post Graduate
Programme in Management (PGP) at the Indian School of Business (ISB) has
the largest number of women students among premier business schools in
the country. The Class of 2015 of the PGP course at ISB has 231
women students, constituting 30 per cent of the total class size, the
highest number ever since the school's inception thirteen years ago, ISB
said in a statement. The number of women students at the school
has been rising steadily and has increased by almost by 120 per cent in
the last seven years, it added. "This is a heartening development and
is a result of the various initiatives that we have undertaken to
encourage women professionals to take up management as a career, in
association with the corporate world over the last few years," ISB
Deputy Dean Savita Mahajan said. "We hope this increased participation
of women will go a long way in meeting the need for gender diversity
across sectors, Mahaj…

Installing prepaid electricity meters in
India will have a similar "transformative" effect that was seen in the
telecom sector with prepaid services, as people would be able to manage
their consumption better, a Sri Lankan think tank LIRNEasia today said.
Discussing findings of survey on access to electricity covering India,
Sri Lanka and Bangladesh, LIRNEasia, an ICT policy and regulation think
tank, said that urban, low income micro-entrepreneurs (MEs) (0-9
employees) face issues in getting new connections and later on with the
quality of service. "In India, six per cent of MEs who said they did
not have a separate electricity connection for their business because
they did not have the right documents. As a result, they obtained
electricity from shared connections or illegal temporary connections,
often at a high cost," LIRNEasia co-founding Chair Helani Galpaya told
reporters here. She added that this issue can be addressed using prepaid meters…

FORENOON BETTER...PROFIT BOOKING TOWARDS CLOSE...
Nifty continues correction for the Second day in a row but
closed above 7300 mark. Stop loss for Nifty may be maintained at 7265 (on close basis). Scrip specific movement
can be expected in view of the last Two days of Derivative settlement. While
Global cues, Quarterly results and Funds flow
are expected to broadly guide the market movement, based on the present
market position , market can be expected to
be generally better in the forenoon and might encounter selling pressure
in the closing session.

Nifty 7318 -41Review for Tuesday :: Narrow Movements… General Bearish Bias… !!!
Market traded with negative bias through out the day and
closed with a loss of more than 0.60%. 30 of Nifty stocks ended in the red and
broader market too was weak with Advance Decline ratio at about 1:1.7. IT,
Media, Metal, Pharma indices gained while PSU Bank, Energy, Realty, Auto and
Infra indices closed weak for the da…

BIG RESTRUCTURING OF MINISTRIES In a restructuring of his Cabinet, Prime
Minister Narendra Modi today combined 17 related ministries into seven
different groups, including some infrastructure departments, in an
apparent bid to ensure synergy and better results. First the Ministry
of Overseas Indian Affairs, created in UPA-II, has been brought together
with External Affairs Ministry under Sushma Swaraj while Corporate
Affairs has been brought back to Finance under Arun Jaitley. In
infrastructure sector, the Prime Minister has combined Road Transport
and Highways and Shipping in the ministry to be headed by Nitin Gadkari,
who had made a name for himself by adopting an innovative approach in
expanding road transport network and bridges in Maharashtra when he was a
minister there in BJP-Shiv Sena Government. Another important
infrastructure combination is bringing together Power, Coal and New and
Renewable Energy under the independent charge of Minister of State
Piyush Go…

Mumbai has emerged as the top Indian city
for property investments by NRIs in the UAE with Bangalore being the
second most popular, according to a survey. Mumbai retained the top
spot with 31.86 per cent NRIs preferring to make property investments in
the city, a recent survey on Indian properties by Sumansa Exhibitions,
the organisers of the Indian Property Show in Dubai, said. Bangalore
came in second with 24.35 per cent preferring to invest in residential
property in the coming months, the survey said. Chennai and Pune
jointly hold the third place with almost equal percentage of people
preferring these cities. Delhi has the fourth position followed by
Cochin, Navi Mumbai, Gurgaon and Hyderabad. "Bangalore's property
market bucked the trend in other metros with many new launches, good
demand and resilient prices. Sector experts predict that residential
property in the city will remain a good bet for 2014, too," said Sunil
Jaiswal, CEO Sumansa Exhibiti…

Nearly 60 per cent of
Indians think that next one month would be a good time to buy real estate with
improvement in consumer sentiments following formation of a stable government,
according to a survey by global research firm Ipsos.
"Almost six in ten (57 per cent) Indians think the next 30 days will be a
good time to buy real estate, such as a house, vacation property or investment
property," Ipsos said in a statement.
Founded in France in 1975, Ipsos is an independent market research company
controlled and managed by research professionals.
"With the formation of a new stable government at the Centre, the consumer
sentiment which was low in the last 2 years has improved significantly. The
stock market has already reacted in a positive manner reflecting this change,
the real estate prices are expected to go northwards by the end of the
year," said Bhasker Canagaradjou, Associate Director, Ipsos Business
Consulting. The realtors reeling under large scale of debt ar…

The net capital inflows to
India are likely to increase sharply in FY'15, buoyed by the historic
victory of the BJP-led NDA headed by Prime Minister Narendra Modi, says a
Nomura report. According to the global financial services firm, this
historic victory has enthused investor confidence that the government
will pursue reforms and policies that will put India back on high growth
trajectory over the medium term. "We expect a USD 25 billion balance
of payments surplus in FY'15," Nomura said in a research note.
According to the report, the import bill is likely to rise slightly on
gradual relaxation in gold import restrictions and the non-gold import
bill may also rise slightly as growth picks up in the latter half of
FY'15. The rise in import bill will be offset by strong exports on the
back of higher global demand, it said. "Overall, we expect the current
account deficit (CAD) to remain within sustainable levels, under 2 per
cent of GDP in…

he occasion was ceremonial but it was a
carnival atmosphere as Narendra Modi was sworn in as Prime Minister
before the largest-ever gathering at Rashtrapati Bhawan, which became a
confluence of people as varied as Presidents, Prime Ministers, film
stars, corporate and religious leaders.

Never before have well
over 4000 people gathered in the forecourt of the majestic Presidential
house as they did today to watch the change of guard from Manmohan Singh
to the man from Gujarat for whom the oath-taking ceremony was the
culmination of a breathtaking political journey. The heat did
not deter the Modi admirers who had come hours ahead. There were a few
fans to cool them but they mostly depended on their invitation cards to
generate some breeze till the sun set and made it bearable.
'Modi, Modi' up went the chants when the PM-designate arrived shortly
before 6 PM as if this was yet another of his election gatherings that
the nation had witnessed over the past…

Domestic markets may
see the return of retail investors finally as earnings from equities have
turned positive in recent months, brokerage firm Morgan Stanley said in a
report today. Retail investors could become net buyers soon from being net
sellers for long, it said, adding that financial savings should see a boost in
the coming 24 months if the government commits itself to bringing down
inflation leading to a marginal rise in real rates, which in turn will help the
retail segment to remain invested. The share of equities within that could also
rise given the improving real return on equities and the starting point of
equity ownership relative to fixed income, it added. The anchoring to physical
assets, especially gold, is likely to be shaken in the coming months, the
report said. Morgan Stanley said the low and negative real rates of the past
four years have fuelled demand for gold and property. Gold demand has
historically not been as high as it has been in the past five years. &…

Marking the beginning of a new era in Indian politics, Narendra
Modi was today sworn in Prime Minister at the head of a 45-member
coalition government after the elections threw the first government with
absolute majority in 30 years.
63-year-old Modi, the first
leader to get a landslide majority for BJP on its own, became the 15th
prime minister in a virtual 'coronation' ceremony in the forecourt of
the Rashtrapati Bhawan before a 3000-strong gathering, the largest
audience at the swearing in a of new government. Rajnath Singh,
Sushma Swaraj, Arun Jaitley, M Venkaiah Naidu, Nitin Gadkari, Uma
Bharti, Maneka Gandhi, Ananth Kumar, Ravi Shankar Prasad, Smriti Irani
and Harsh Vardhan were among those who were sworn in as Cabinet
ministers. Ram Vilas Paswan (LJP), Harsimrat Kaur Badal (Akali
Dal), Anant Geete (Shiv Sena) and Ashok Gajapathi Raju (TDP) were those
from allied parties who took the oath today. Dignitaries from
politics, industry, cinema and…

Aggressive
dividend payouts by top 500 companies has seen 419 of them together borrowing
around Rs 20,000 crore, while paying around Rs 1.2 trillion (Rs 1.2 lakh crore)
in FY'14, according to India Ratings. "Several BSE 500 corporates,
excluding banks and financial services companies, adopted an aggressive
dividend payment strategy in FY'14, despite a reduction in their net profit.
"We expect 419 of these corporates to have paid an aggregate dividend of
Rs 1-1.2 trillion in the fiscal and availed aggregate debt of Rs 18,000-20,000
crore for the same," as per the data collated by the rating agency. The
agency estimates 419 corporates availed Rs 19,180 crore of debt in FY'14 to
fund the aggregate dividend payment of Rs 1,04,900 crore. The trend of dividend
payment behaviour over FY'09-FY'13 suggests that in most instances cash flow
from operations was adequate and instances of debt requirement declined
steadily from FY'11-FY'13. "However, …

CLOSING SESSION CRUCIAL
Nifty experienced one of the huge volatile sessions and
closed nearly flat amid huge selling at higher levels and short covering at lower
levels. Stop loss for Nifty may be maintained at 7250 (on close basis). While Global cues,
Quarterly results and Funds flow
are expected to broadly guide the market movement, based on the present
market position , market can be expected to
encounter selling at higher levels . Monday’s trading range (being very wide), may be kept
as reference for the rest of the week.

Nifty 7359 -8Review for Monday :: Roller Coaster Ride …Huge Selling at Higher Levels… !!!
Market gained smartly in the forenoon session and
encountered huge selling in the Second half (between 2.15pm and 2.45pm)
but
recovered to close nearly flat for the day. However, huge selling has
shattered
the confidence of the traders / investors with bullish bent of mind. 32
of
Nifty stocks ended in the red and broader market too w…

'Poor demand shaves off top
cos' profit;margin by 37% in FY14' Mumbai, May 23 (PTI) India Inc witnessed a
massive 37.4 per cent drop in profit growth and narrowing of margins in FY'14
due to muted investments and lower demand, says a report by Care Ratings. Net
profit of 880 companies, excluding SBI (which reported its numbers earlier in
the day), was up by 8.2 per cent in the recently concluded FY14, down 37.4 per
cent, as against the 13.1 per cent achieved in the previous fiscal, it said in
a note today. Net profit margins narrowed moderately to 9.5 per cent, as
against 9.8 per cent in the previous fiscal. Net sales increased 12 per cent as
against 15.3 per cent in the year-ago period, it said. "The deterioration
in the overall performance has been the outcome of muted investment and lower
market demand... corporate performance during the year was affected by the
muted pace of economic growth." the agency said. The government expects
the economy to grow bel…

Difference between wholesale and retail
prices of essential vegetables, like onion and potato, went up beyond 49
per cent during 2013-14, a study said. The difference
underscores the widening gaps between the prices at which procurement is
done from farmers and the price level for consumers, the Assocham study
said. Majority of Indian retailers, it said are selling
vegetables at prices which are significantly higher than the wholesale
price index (WPI). "Normally, the difference between wholesale
price (WSP) and retail prices on an average stays around 30 per cent and
it has been much more as seen in the findings of paper," the chamber
said. It further said that WSP benefited multiple times
middlemen and traders, particularly for sale of essential commodities
and worst hit in the process remained farmer and consumer as farmers
margins squeezed badly with consumers paying unreasonably higher prices.
"Due to difference in both prices of whole…

After staging impressive rallies in the
run-up to elections, Indian stocks and the rupee have scope for further
upside, said a report by Goldman Sachs. "The general elections in India
resulted in an unequivocal verdict in favour of the opposition BJP, and
there is substantial momentum behind the prospects for economic reform.
"Expectations of a market-friendly outcome have seen Indian equities,
the INR and INR swaps rally - and the key question now is whether these
moves can extend. Our general answer to that question is a qualified
'yes'...." Goldman Sachs said in a research note. Indian equities,
rupee and rupee-swaps have all seen rallies of varying intensity in
anticipation of a reformist government and post elections these moves
are likely to extend further, it said. Though the large
Parliamentary majority will allow the new government to undertake
previously stalled reforms, transplanting the model of effective
administration from Gujar…